Tag Archives: Carey Corbett Financial Solutions

Money management is a crucial skill that every child should learn at an early age. Learning how to manage finances is not just about budgeting and saving, but it’s also about building a healthy relationship with money. As parents, it’s our responsibility to teach our children about money and help them make wise financial decisions in the future. We’re going to set out five valuable lessons that you can give to your children about money. Teach them the value of money The first lesson to teach your children about money is the value of it. Help your children understand that money doesn’t grow on trees, and it takes hard work and effort to earn it. Encourage them to save money and avoid unnecessary spending. This will help them develop a sense of responsibility and an understanding of the value of money. One of the ways to teach your children this valuable lesson is to give them pocket money. This should …

I read an article in The Irish Times this week with the heading ‘Women more than twice as likely to rely on State pension’ which lead me to think about our clients and how are the women of Co Clare faring. Firstly let’s look at what the data says nationwide – women are more than twice as likely as men to rely heavily on the State pension for their income in retirement, according to a new survey. And three-quarters of those responding to the study by the Retirement Planning Council of Ireland agreed that women have historically faced financial discrimination when it comes to pensions. Half attribute that to the focus on woman for the provision of unpaid care to children and other family members, while 35 per cent think it is due to women being more likely to have low-paid or part-time jobs. Personal finance is a topic that many people find daunting, boring or confusing, especially in times of economic …

It should not come as a surprise that in 2023, the most popular personal finance topic in Ireland revolves around the impact of inflation and the rising cost of living on consumer behaviour. This trend has been highlighted in the Irish Consumer Insights Pulse Survey 2023 conducted by PwC. Rising Prices and Changing Consumer Behaviour The survey reveals that 79% of Irish consumers have altered their non-essential spending in the last six months. This change in behaviour is largely driven by the re-emergence of inflation after decades of very low levels. As a result, Irish consumers are becoming more cautious and mindful of cost and value. The Shift Towards Value In response to these cost-of-living challenges, consumers are shifting their consumption habits both in-store and online. The survey shows that 98% of Irish consumers will adopt cost-saving behaviours over the next six months. This includes buying retailers’ own brand products, shopping with retailers offering better value, buying certain products only …

WHILE it was a giveaway budget, Paschal Donohoe did take a measured approach and kept an eye on the future, according to Tommy Corbett of Ennis company Carey Corbett Financial Solutions. “In the main it was a very targeted approach. They wanted to look after those on social welfare and the lower paid, but also targeted towards the squeezed middle, and those with children in university,” he said. Regarding those on social welfare, he said, “There’s a €12 increase in the rate of social welfare and the pension. There’s also an increase in the fuel allowance of €400 as far as I know, and they’ve also widened the net for those applying for the fuel allowance. There’s something like 80,000 more people will be able to apply for fuel allowance.” And what measures will benefit the so-called squeezed middle? “The increase in the tax band from when you go from paying 20% to 40%, that went up by €3,200. If …

Tommy Corbett of Carey Corbett Financial Solutions on the new social welfare payments including one-off measures and when they will be paid.

Tommy Corbett of Carey Corbett Financial Solutions gives some examples of the tax change implications in Budget 2023.

WE shot a series of videos with Tommy Corbett of Carey Corbett Financial Solutions to give you a better handle on this year’s Budget. Look out for the videos throughout the day on our Facebook and YouTube pages and on the website. First up, Tommy gives an overview of the main points of the Budget in the context of the economy. Secondly, he takes a closer look at tax changes and what they mean for a variety of different households. Finally he speaks about the new and once-off social welfare supports and when they will be paid.

INFLATION was a reality before the invasion of Ukraine, but the war is going to exacerbate it significantly, says Tommy Corbett of Ennis based Carey Corbett Financial Solutions. “We’ve had inflation for the last 12 months, mainly driven by supply chain side and the disruption of supply chains on goods coming from afar. There was also pent up demand. “People hadn’t spent money during Covid, and when it was finished they had a lot more money in their pockets and tended to spend a bit more. But from now on what’s happening in Ukraine is going to drive it even further. Things like wheat will come into play and the supply of gas and oil is going to dry up and that’ll drive things even further.” The rise in petrol and diesel prices is one of the starkest reminders, he feels. “It’s hitting home when you got to the pumps and see it’s €2 or even €2.14 or €2.15 a …